Snowflake Inc. $SNOW Position Lowered by TrueMark Investments LLC

TrueMark Investments LLC decreased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,478 shares of the company’s stock after selling 441 shares during the period. TrueMark Investments LLC’s holdings in Snowflake were worth $2,568,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Aspiriant LLC bought a new position in shares of Snowflake during the second quarter worth about $201,000. Koshinski Asset Management Inc. lifted its position in shares of Snowflake by 4.2% during the second quarter. Koshinski Asset Management Inc. now owns 1,604 shares of the company’s stock worth $359,000 after purchasing an additional 64 shares during the last quarter. Citizens Business Bank lifted its position in shares of Snowflake by 8.9% during the second quarter. Citizens Business Bank now owns 20,831 shares of the company’s stock worth $4,661,000 after purchasing an additional 1,694 shares during the last quarter. Huntleigh Advisors Inc. bought a new position in shares of Snowflake during the second quarter worth about $486,000. Finally, Carmel Capital Partners LLC bought a new position in shares of Snowflake during the second quarter worth about $235,000. Institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

SNOW has been the topic of several research analyst reports. Stephens initiated coverage on shares of Snowflake in a research report on Friday, July 18th. They set an “overweight” rating and a $261.00 price target on the stock. Cowen reiterated a “buy” rating on shares of Snowflake in a research note on Thursday, August 28th. UBS Group increased their price objective on shares of Snowflake from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Bank of America upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $220.00 to $240.00 in a research note on Wednesday, August 20th. Finally, Citigroup reiterated an “outperform” rating on shares of Snowflake in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $256.71.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $240.68 on Friday. The firm’s 50 day moving average is $222.38 and its two-hundred day moving average is $201.96. Snowflake Inc. has a 52 week low of $113.23 and a 52 week high of $255.39. The firm has a market capitalization of $81.54 billion, a P/E ratio of -58.00 and a beta of 1.21. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business earned $0.18 earnings per share. Snowflake’s revenue was up 31.8% compared to the same quarter last year. Analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 7,551 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $221.24, for a total value of $1,670,583.24. Following the sale, the director owned 153,226 shares in the company, valued at approximately $33,899,720.24. This trade represents a 4.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the completion of the sale, the senior vice president owned 241,854 shares in the company, valued at $53,986,649.88. The trade was a 4.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,182,434 shares of company stock valued at $270,280,661 in the last ninety days. Insiders own 6.80% of the company’s stock.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.